RUM BARONS’ PROFIT
BIG DIVIDEND PAID EACH WEEK BANKS MAY BE INCULPATED (United Service) Reed. 9.5 a.m. NEW YORK, Fri. Seven banks which handled bootleg accounts, and loaned vast sums to the •‘emperors of booze ring” to buy Scotch whisky in England, may be indicted following the arrests of the chief actors in Wednesday’s raids. The ring’s business apparently averaged £200,000 a week. Every Saturday it declared a 12 to IS per cent, dividend, so that if ever a blowup came, as has apparently happened, settlements between the “rum barons” would be almost up-to-date. The Federal agents found the remarkable success of the rum syndicate, partly due to spies in Uncle Sam's coastguard service, wearing the country’s uniform.
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Bibliographic details
Sun (Auckland), Volume III, Issue 798, 19 October 1929, Page 9
Word Count
118RUM BARONS’ PROFIT Sun (Auckland), Volume III, Issue 798, 19 October 1929, Page 9
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